CONTINUOUS DISCLOSURE POLICY

CONTINUOUS DISCLOSURE POLICY 

BITCOIN CAPITAL RESERVE LIMITED 
ACN 689 640 266 

Effective Date: 8 October 2025 
Review Date: 8 October 2026 

1. PURPOSE

This Policy ensures the Company complies with continuous disclosure obligations under NSX Listing Rules 6.4-6.5A and Section 674 of the Corporations Act 2001 (Cth). 

Applies to: All Directors, officers, employees, and consultants. 

2. DISCLOSURE OBLIGATION

2.1 Core Rule 

The Company must immediately disclose to NSX any information that: 

(a) is not generally available; and 

(b) a reasonable person would expect to materially affect the price or value of the Company’s securities. 

2.2 What is Material for BCR 

2.3 Exceptions to Disclosure 

Disclosure not required if information is confidential AND one of: 

(a) Would breach law to disclose; 

(b) Incomplete proposals or negotiations; 

(c) Insufficiently definite; 

(d) Internal management information; or 

(e) Trade secret or would compromise security. 

Important: If NSX requests disclosure, must provide even if exception applies. 

3. ROLES AND PROCESS

3.1 Disclosure Officer 

Chief Investment Officer (Disclosure Officer) 

Responsibilities: 

• Coordinate disclosure activities 

• Liaise with NSX 

• Maintain disclosure register 

• Monitor compliance 

3.2 Reporting Material Information 

All personnel must immediately report potentially material information to: 

Primary: Disclosure Officer 

When in doubt, report it. 

3.3 Disclosure Process 

1. Report to Disclosure Officer
   ↓ 
   2. Assess materiality (Disclosure Officer + CEO) 
      ↓ 
   3. Does exception apply? 
      NO → Draft announcement 
      YES → Document reason, monitor 
      ↓ 
   4. Approval: 
      – CEO for routine matters 
      – Board for: Bitcoin >$5M, debt, strategic changes 
      ↓ 
   5. Submit to NSX immediately 
      ↓ 
   6. Monitor market response 

3.4 Timing 

• Immediately upon becoming aware 

• Before any other public announcement 

• Outside trading hours where possible 

• Trading halt if needed during market hours 

4. KEY REQUIREMENTS

4.1 Confidentiality 

(a) Material information is strictly confidential until disclosed to NSX. 

(b) Access on need-to-know basis only. 

(c) No selective disclosure to analysts, media or investors. 

(d) Secure storage and communication of sensitive information. 

4.2 Media and Communications 

(a) Only CEO or Chairman authorized to speak to media. 

(b) All material information to NSX first, then other channels. 

(c) Presentations may only contain publicly available information. 

5. ANNOUNCEMENTS

5.1 Requirements 

All announcements must be: 

(a) Accurate and not misleading; 

(b) Clear and in plain English; 

(c) Complete with all material information; 

(d) Compliant with NSX format requirements. 

5.2 Approval 

• CEO: Routine disclosures 

• Board: Bitcoin transactions >$10M, debt financing, strategic matters 

5.3 Emergency Disclosure 

If immediate disclosure required and Board unavailable: 

(a) CEO or Disclosure Officer may authorize; 

(b) Contact NSX immediately; 

(c) Notify Board ASAP; 

(d) Document reasons. 

6. PERIODIC REPORTING

The Company must provide: 

(a) Half-yearly reports within 75 days; 

(b) Annual reports within 4 months; 

(c) Quarterly Bitcoin holdings reports as required by NSX; 

(d) Other reports as required by NSX Listing Rules. 

7. MONITORING

7.1 Monitoring 

(a) Disclosure Officer maintains register of all NSX announcements. 

(b) Quarterly reports to Board on compliance. 

(c) Annual policy review by Board. 

8. BREACHES

8.1 Consequences 

Company: 

• NSX sanctions (fines, suspension) 

• ASIC penalties 

• Shareholder actions 

Individual: 

• Warnings or termination 

• Personal civil/criminal liability 

• Insider trading penalties 

8.2 Response to Non-Compliance 

(a) Immediate corrective disclosure if required; 

(b) Investigation and disciplinary action; 

(c) Process improvements.

9. QUICK REFERENCE

Materiality Test 

Ask: “Would this information influence my decision to buy, sell, or hold BCR shares?” 

YES → Material → Report immediately 

Decision Tree 

Is information material? 
   NO → No disclosure 
   YES ↓ 
Generally available? 
   YES → No disclosure 
   NO ↓ 
Exception applies? 
   YES → Monitor, document 
   NO ↓ 
DISCLOSE TO NSX IMMEDIATELY